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Gold outshines treasuries to be top hedge against Ukraine risk

Gold has replaced Treasuries as the haven of choice as the conflict in Ukraine worsens, with surging oil prices diminishing the appeal of bonds.

The precious metal is gaining in popularity after Russia’s invasion of Ukraine drove Brent crude prices above the $100 mark last week for the first time since 2014. Bullion jumped about 6% this month, while an index of US sovereign bonds slid 1.5%.

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